How Much Does Final Expense Insurance Cost?

What drives the price — and why waiting almost always costs more

Final expense insurance isn’t a fixed-price product. The number varies based on who you are — your age, your health, and what you’re trying to accomplish.

How much does final expense insurance cost? It’s one of the first questions people ask — and one of the hardest to answer simply. It’s priced individually, based on your age, your health history, how much coverage you want, and the type of policy you choose. Two people, same coverage amount, can pay meaningfully different premiums.

The Variables That Drive Your Premium

Age at application is the single biggest driver. The older you are when you apply, the higher the premium for the same coverage. Every year you wait, the price goes up. Health history determines which policy type you qualify for — simplified issue or guaranteed issue — and that has a significant impact on cost. Coverage amount is linear — more costs more. Policy type matters: simplified issue involves health questions and typically costs less; guaranteed issue asks nothing and carries higher premiums plus a graded benefit period.

Real-World Premium Ranges

These are illustrative ranges for a $10,000 simplified issue policy. Actual premiums vary by carrier, health, and state.

Ages 50–65: Age 50 — approximately $25–$40/month. Age 55 — $30–$50. Age 60 — $35–$60. Age 65 — $45–$70/month.

Ages 66–85: Age 70 — approximately $60–$85/month. Age 75 — $80–$110+. Age 80 — $110–$150+ depending on carrier and health. Guaranteed issue carries higher premiums than these ranges.

For $25,000 in coverage, multiply by approximately 2.5x. Many people who assume they need guaranteed issue qualify for simplified issue pricing when someone shops both paths on their behalf.

The Real Cost of Waiting

Your premium locks in at the age you apply and never increases. A 65-year-old paying $50/month will still pay $50 at 85. But a 75-year-old buying the same policy might pay $100/month — double the rate, with a decade of unprotected years behind them. Health changes between now and later can also shift you from simplified issue to guaranteed issue pricing. The people who get the best coverage at the best price made the decision while they still had the most options.

A Few Things Worth Knowing

Everything here reflects general characteristics of how final expense insurance works — not any specific product or carrier. A prior decline doesn’t mean coverage isn’t available — guaranteed issue exists for exactly that situation. Policy features, availability, and terms vary by carrier and state.